On Wednesday, Fed Chair Jerome Powell announced that the central bank would begin cutting Fed interest rates, starting with a .50 percentage point (50 bps) cut this month. The Fed also signaled that additional cuts were likely in their final two meetings this year in November and December, and more next year.

Over the past couple of years, the US economy has wrung out inflation like dirty mop water from just about every sector — except for the housing market, which remains paralyzed by high prices and chronically low supply.

The Federal Reserve delivered its first interest rate cut in more than four years yesterday. It was a declaration of victory over once hot, hot, hot inflation. And mortgage rates responded by fluctuating in kind of a weird way.

Gov. Gavin Newsom signed a package of housing bills that tweak a number of existing laws to boost the supply of housing, including income-restricted units.

Governor Gavin Newsom announced new action to address homelessness and expand affordable housing Thursday morning as he signed multiple pieces of legislation at a press event in San Francisco's Mission District.

California cities will soon face more state scrutiny and new penalties for pushing back on housing and homeless shelter construction. Gov.